Kingsview Wealth Management LLC Reduces Position in GE Vernova Inc. $GEV

Kingsview Wealth Management LLC reduced its stake in GE Vernova Inc. (NYSE:GEV) by 4.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,723 shares of the company’s stock after selling 341 shares during the quarter. Kingsview Wealth Management LLC’s holdings in GE Vernova were worth $4,087,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in GEV. Cornerstone Advisors LLC raised its stake in GE Vernova by 0.8% in the 2nd quarter. Cornerstone Advisors LLC now owns 13,200 shares of the company’s stock valued at $6,985,000 after purchasing an additional 100 shares during the last quarter. Citizens Financial Group Inc. RI grew its holdings in shares of GE Vernova by 38.8% during the second quarter. Citizens Financial Group Inc. RI now owns 4,820 shares of the company’s stock worth $2,551,000 after buying an additional 1,347 shares in the last quarter. Cercano Management LLC acquired a new position in shares of GE Vernova in the second quarter valued at approximately $32,236,000. Avantax Advisory Services Inc. lifted its stake in shares of GE Vernova by 11.6% during the second quarter. Avantax Advisory Services Inc. now owns 9,155 shares of the company’s stock valued at $4,844,000 after buying an additional 953 shares during the period. Finally, Intech Investment Management LLC boosted its position in GE Vernova by 7.7% during the second quarter. Intech Investment Management LLC now owns 11,571 shares of the company’s stock worth $6,123,000 after acquiring an additional 828 shares during the last quarter.

Analyst Ratings Changes

A number of research analysts have weighed in on GEV shares. Wells Fargo & Company increased their price target on GE Vernova from $697.00 to $717.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th. JPMorgan Chase & Co. upped their target price on GE Vernova from $715.00 to $740.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Robert W. Baird raised their price target on GE Vernova from $568.00 to $706.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Redburn Partners set a $475.00 price target on GE Vernova in a report on Wednesday, October 15th. Finally, Royal Bank Of Canada increased their price objective on shares of GE Vernova from $605.00 to $630.00 and gave the stock a “sector perform” rating in a report on Thursday, October 23rd. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $607.81.

GE Vernova Stock Performance

NYSE GEV opened at $576.48 on Tuesday. The firm has a market capitalization of $156.41 billion, a price-to-earnings ratio of 93.89, a PEG ratio of 4.30 and a beta of 1.69. GE Vernova Inc. has a one year low of $252.25 and a one year high of $677.29. The company’s 50 day moving average price is $600.40 and its 200 day moving average price is $559.92.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.08). The business had revenue of $9.97 billion during the quarter, compared to analyst estimates of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.GE Vernova’s revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.35) EPS. GE Vernova has set its FY 2025 guidance at EPS. Sell-side analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Monday, October 20th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Monday, October 20th. GE Vernova’s payout ratio is currently 16.29%.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the company’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total value of $2,046,000.00. Following the completion of the sale, the chief financial officer owned 7,590 shares of the company’s stock, valued at $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.15% of the stock is currently owned by corporate insiders.

GE Vernova Company Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.